Fed's Barkin: Economic headwinds mostly driven by uncertainty on trade and politics

In his prepared remarks delivered at an economic outlook conference in Baltimore, Thomas Barkin, President of the Federal Reserve Bank of Richmond, noted that the economic headwinds in the United States (US) were mostly driven by uncertainty on trade and politics.

"As long as US consumers keep spending, the economy will stay in a good place," Barkin added but further noted that the economy was giving conflicting signals.

The US Dollar Index is posting modest daily gains at 97.65 after these comments. Below are some additional takeaways, per Reuters.

"Risks to the US economy are still tilted to the downside."

"Don't discount idea the US could talk itself into recession."

"Closely watching whether this year's rate cuts have the intended effect on the economy."

"The biggest boost to the economy would be from lessening uncertainty."